Hello,
This is my first post on Boglehead and I am looking for some help! I am in need of some advice regarding investments in RRSP vs TFSA.
Introduction:
I am a 27 year old about to enter graduate school in September. Starting September, I will need to pay tuition (~$7k per year) and potentially rent if I move out to get closer to the school (~$1000/mo). So approximately, for a year starting september, I will be spending about $28k for rent, tuition, and various living costs. I am applying to student loans so the $28k estimate may be reduced somewhat.
A) What I have now:
TFSA: $44k (Vanguard VGRO - equity 80: bond 20)
Checking acct: $38k
RRSP: $0
B) Main question:
In terms of my current banking status, I have been investing through my TFSA account for the last 4 years which now has accumulated to $44k. So what I want to invest now is my ‘checking acct subtracted estimated cost for the next year’. The question is whether I should put that investment amount to TFSA or RRSP.
C) In addition and more importantly, in the future with my earnings, how should I allocate my investments to each of TFSA and RRSP?
D) 2-track plan?:
Lastly, I plan to continue investing with VGRO in TFSA but with RRSP, I’m thinking of Vanguard VEQT (100% equity) for at least 25 years. What do you think of this?
Thank you so much! Image may be NSFW.
Clik here to view.
This is my first post on Boglehead and I am looking for some help! I am in need of some advice regarding investments in RRSP vs TFSA.
Introduction:
I am a 27 year old about to enter graduate school in September. Starting September, I will need to pay tuition (~$7k per year) and potentially rent if I move out to get closer to the school (~$1000/mo). So approximately, for a year starting september, I will be spending about $28k for rent, tuition, and various living costs. I am applying to student loans so the $28k estimate may be reduced somewhat.
A) What I have now:
TFSA: $44k (Vanguard VGRO - equity 80: bond 20)
Checking acct: $38k
RRSP: $0
B) Main question:
In terms of my current banking status, I have been investing through my TFSA account for the last 4 years which now has accumulated to $44k. So what I want to invest now is my ‘checking acct subtracted estimated cost for the next year’. The question is whether I should put that investment amount to TFSA or RRSP.
C) In addition and more importantly, in the future with my earnings, how should I allocate my investments to each of TFSA and RRSP?
D) 2-track plan?:
Lastly, I plan to continue investing with VGRO in TFSA but with RRSP, I’m thinking of Vanguard VEQT (100% equity) for at least 25 years. What do you think of this?
Thank you so much! Image may be NSFW.
Clik here to view.
Statistics: Posted by basil818 — Thu Jul 18, 2024 10:31 pm — Replies 1 — Views 111
